Millrace Asset Group Inc. Has $2.04 Million Position in C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Millrace Asset Group Inc. lifted its position in shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) by 20.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,471 shares of the transportation company’s stock after purchasing an additional 3,182 shares during the period. C.H. Robinson Worldwide accounts for 2.1% of Millrace Asset Group Inc.’s portfolio, making the stock its 13th largest holding. Millrace Asset Group Inc.’s holdings in C.H. Robinson Worldwide were worth $2,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quent Capital LLC increased its position in C.H. Robinson Worldwide by 94.8% during the second quarter. Quent Capital LLC now owns 300 shares of the transportation company’s stock worth $26,000 after buying an additional 146 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of C.H. Robinson Worldwide by 168.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 295 shares of the transportation company’s stock worth $26,000 after acquiring an additional 185 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of C.H. Robinson Worldwide by 83.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 244 shares of the transportation company’s stock worth $27,000 after acquiring an additional 111 shares during the period. Eastern Bank acquired a new position in shares of C.H. Robinson Worldwide during the 3rd quarter worth approximately $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in C.H. Robinson Worldwide in the 3rd quarter valued at $55,000. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CHRW. Robert W. Baird upped their price objective on shares of C.H. Robinson Worldwide from $88.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their price target on shares of C.H. Robinson Worldwide from $97.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Susquehanna cut their price objective on shares of C.H. Robinson Worldwide from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. BMO Capital Markets upped their target price on C.H. Robinson Worldwide from $92.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, UBS Group raised C.H. Robinson Worldwide from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $140.00 in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $107.63.

Insider Activity

In related news, insider Michael John Short sold 10,408 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $109.87, for a total transaction of $1,143,526.96. Following the sale, the insider now directly owns 70,943 shares of the company’s stock, valued at approximately $7,794,507.41. The trade was a 12.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

C.H. Robinson Worldwide Trading Down 0.1 %

CHRW opened at $107.54 on Tuesday. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 1.23 and a beta of 0.84. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.86. C.H. Robinson Worldwide, Inc. has a twelve month low of $65.00 and a twelve month high of $113.10. The company has a 50-day simple moving average of $107.74 and a 200 day simple moving average of $97.31.

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. The company had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.53 billion. C.H. Robinson Worldwide had a net margin of 1.96% and a return on equity of 30.38%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. Analysts predict that C.H. Robinson Worldwide, Inc. will post 4.4 EPS for the current fiscal year.

C.H. Robinson Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $0.62 dividend. The ex-dividend date is Friday, December 6th. This represents a $2.48 annualized dividend and a dividend yield of 2.31%. C.H. Robinson Worldwide’s payout ratio is 85.81%.

About C.H. Robinson Worldwide

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.